Cage Owes $14 Million To U.s. Government
By WENNSunday, January 17, 2010
NICOLAS CAGE has spoken out about his tax woes, revealing he still owes $14 million (?8.75 million) to the U.S. government.
The Con Air star has found himself at the centre of a number of tax claims in recent months, with the Internal Revenue Service (IRS) making a $6.2 million (?3.9 million) demand in August (09) in relation to unpaid taxes in 2007.
Cage is also facing other claims of unpaid tax related to his earnings between 2002 and 2004, while he was accused of defaulting on a $2 million (?1.25 million) loan in October (09).
The actor blamed financial mismanagement for his money woes and is currently embroiled in a legal wrangle with his former business manager Samuel Levin.
The 46 year old was hit with a $6.7 million (?4.18 million) suit on New Year’s Eve (31Dec09) in relation to unpaid taxes in 2008 - taking his total tax bill to approximately $14 million.
Cage opened up about his money issues on Friday (15Jan10), telling TMZ.com, “Over the course of my career I have paid at least $70 million in taxes. Unfortunately, due to a recent legal situation, another approximate $14 million is owed to the IRS, however, I am under new business management and am happy to say that I am current for 2009. All taxes will be paid including any to be determined state taxes.”
